Rizal Commercial Banking Corporation (RCBC)

In September 2011, CVC funds completed the acquisition of a 15% stake in Rizal Commercial Banking Corporation (RCBC).

RCBC was established in 1960, and is the number four universal bank in the Philippines in terms of assets and deposits and offers a range of commercial, retail and corporate banking products and services. As of 31 December 2010, the company had total assets of PHP320.0 billion (US$7.4 billion), total deposits of PHP236.8 billion (US$ 5.5 billion) and normalised net income of PHP3.1 billion (US$72 million).

The bank has more than 350 branches and over 550 ATMs across the country, concentrated largely in the more densely populated Metro Manila and Luzon regions.